Ethereum developer Virgil Griffith released on $ 1 million bail
Former leading specialist of the Ethereum Foundation Virgil Griffith was released on bail of $ 1 million after 10 days from the date of the relevant decision, according to Inner City Press.
The portal posted a snapshot of the letter of commitment signed by Griffith, the deputy chief of the court clerk and assistant prosecutor on January 9.
Griffith was arrested in late November in Los Angeles for attending a conference in North Korea where he advised on cryptocurrencies and blockchain. On December 30, Judge Vernon Broderick issued a bail order. To meet the demands put forward, Griffith’s parents and sister were forced to mortgage their homes. According to Inner City Press, they signed the pledge back on January 6..
Earlier, Griffith was formally charged with “conspiring to violate the Law on Economic Powers in the Event of International Emergencies”.
Lawyer Stephen Palley, who read the transcript of the meeting regarding the release of Griffith on bail, claims that the authorities intend to seek a prison sentence of 1-2 years for him, and not the maximum prescribed by law of 20 years.
Upon release on bail, the developer will be with his parents in Alabama awaiting trial.
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